“Our current visit to the Kingdom is an implementation of a bilateral agreement signed between the two countries," he said on Wednesday. "We are here to explore investment opportunities in the transferal and complimentary projects."

Zafar called Saudi Arabia's investment climate a "conducive atmosphere" and pointed out one of India's specialties: Textiles. During the meeting with the Makkah Chamber of Commerce and Industry, the delegation discussed the possibility of India providing medical equipment, hospital needs, surgical equipment, medicines, textiles, 100-percent cotton material, engineering equipment, computer programs, leather goods and foodstuffs.

"It (India) is able to cover the needs of the GCC (Gulf Cooperation Council) countries in this regard," he said. "Such projects would create more job opportunities for both countries.”

He lauded the role being played by the Saudi Arabian General Investment Authority (SAGIA) and said SAGIA has undertaken the role of enabling foreign investors to obtain real investment opportunities in the Kingdom.

Zafar also invited Saudi investors to visit to India later this year to attend several trade expositions. He specifically identified Haj and Umrah tourism as a niche of opportunity in bilateral cooperation between Indian and Saudi ventures.

“We have detailed information about the means to invigorate the economies of Haj and Umrah, which we will put on the table for the Saudis,” he said.